ShippingWatch

EU court rules in favor of Iran's largest carrier

Iran's biggest shipping company IRISL secured a victory over the EU on Monday, when an EU court repealed the sanctions against the company, according to Reuters.

The financial sanctions against Iran suffered a new setback at an EU court on Monday, when the court decided to repeal sanctions against the country's largest shipping company, Islamic Republic of Iran Shipping Lines (IRISL), writes Reuters.

The ruling falls in line with a series of similar verdicts this year, which have repealed sanctions against other companies in Iran. At great frustration to the United States and the EU, who are using sanctions against banks and companies in an attempt to halt the country's nuclear program.

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